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>Trading Update

>… 10:34 – I’m down about $70 right now. Lawrence told me to watch the big spreads through ECN Book but it’s been going so fast I couldn’t keep up and just forgot about it. What I’ve been trading this morning was all reversal or momentum trades, so far most of them has gone against me. There were a few ones that I cut my losses and it turned out to be a good move because it would’ve been a lot worse if I didn’t like with BBY and NKE. BX and AIG I think I got scared thinking the trend is reversing and took my profit about about $10 when I should’ve stayed in and could’ve made at least another $50 each.

I think I was too trigger happy in the morning. I want to buy when there’s more support on the volume or other information to show that the momentum or reversal is stronger and review my risk/reward tradeoff more carefully before I get in. It’s tricky regardless. I think I’ll only get in on the ones with strong evidence. I’m going to watch the spreads in the afternoon and try to spot some of the “free money.”